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Finance

Finance

GarantiBank International NV (GBI), a member of the BBVA Group, received an innovation award at the Outsystems Annual “NextStep” Event in Utrecht, the Netherlands. GBI won the prize for being the first bank in the Netherlands to obtain the consent of the Dutch Central Bank to bring its core banking processes to the cloud.

Contactless technology enables users to make card payments through near-field communication (NFC). Adoption of this technology has grown exponentially in recent years, thanks to the benefits it offers both consumers and stores.

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The use of cash as method of payment has been declining in recent years, in favor of digital methods and credit cards. Last month we saw another example in the Hawkers sunglass brand, which will not be accepting cash payments in its new Madrid store.